If you were a teen looking for a new car, you’d likely want something loud, fast,
and flashy. Most teens are trying to impress their peers, and this is exactly the attitude
that gets them into trouble behind the wheel. As a parent it is your job to temper your
teen’s desire to act in a foolhardy manner and it starts with the car you allow him to
drive. Although you’re probably fine with putting him behind the wheel of your old-school
minivan, rife with safety features, the truth is that you probably need that car. As a
result, you might be looking at getting your teen driver his own sets of wheels. So here
are just a few tips to help you go about in in the right way.

1. New vs. used. There are very few cases in which a teen driver should get a
   brand new car. The major exceptions would be advanced safety features, alternative
   fuel options, and hands-free technology, all of which are more readily available on newer
   vehicles. Still, you could look at certified pre-owned options that are only a year or two
   old. The idea here is that your teen is likely to ruin a first car, not only with accidents,
   but from the pure wear and tear that a new driver will heap on his vehicle as he hones
   his driving skills. This isn’t to say that you should cheap out on a car that barely runs,
   but considering how much money you stand to lose, it doesn’t make sense to buy new in
   most cases.
2. Consider associated costs. Another thing to think about is the additional costs
   that come with buying a car. New cars will have higher registration fees and insurance
   premiums (especially since you have to hold a full coverage policy while paying a loan),
   while used cars may include more maintenance. This is one great reason to check out
   certified pre-owned vehicles; their sticker prices are greatly reduced and most come with
   a partial or even a full warranty.
3. Check consumer [Read more…]